EMerging Equity
Nigeria
Nigeria Faces Another Crisis As Govt Faces “Severe Financial Strain” With “Empty Treasury” To Pay For Fuel Subsidies
Nigeria is likely to be hit by fuel shortages in the approaching weeks as government funds run low and they won’t be able to support payments for gasoline subsidies, Bloomberg reports, citing the head of Seplat Petroleum Development. “In three weeks we will be back to scarcity because we simply don’t have the money to … Continue reading
Why Office Space In Lagos Is More Expensive Than New York
Originally posted on Quartz:
When you think about the most expensive offices space in the world, cities like New York and London,with their reputations as global financial centers, spring to mind. However, when it comes to pricing, Lagos, the commercial capital of Africa’s largest economy has managed to find a comfortable spot among them. Rentals for…
African Union Summit To Endorse Creation Of A $2 Trillion Free-Trade Zone
“African nations are taking steps toward creating a free-trade zone with a combined size of $2 trillion, as heads of state meet in Johannesburg (South Africa) this week,” Bloomberg reports. Talks on removing the barriers to trade and the movement of people between the continent’s 54 countries will begin on June 15 at the African … Continue reading
Instead Of Killing Fracking, OPEC Engineers Its Own Demise
By Patrick L. Young A market flooding production strategy many saw as intending to kill the US-centric shale revolution, has, if anything, only made it stronger. In essence the OPEC cartel is signing its own death warrant. As always the communique suggests harmony and continuity but behind the scenes this was apparently a more fraught OPEC … Continue reading
Will JPMorgan Remove Nigeria From Its EM Bond Index?
“JPMorgan Chase & Co. extended a deadline to decide whether to remove Nigeria from its emerging market bond indexes tracked by more than $200 billion of funds, as a new government in Africa’s biggest economy settles in,” Bloomberg reports. Back in January this year, JPMorgan said it would assess Nigeria’s suitability to remain in a … Continue reading
Mark Mobius: A New Way Forward For Nigeria?
A couple of years ago, many investors were optimistic about Nigeria and the stock market was booming, buoyed by strong economic growth and government reforms to improve the country. However, by 2014, the mood soured amid a series of unfortunate events, including the terrorist acts of Boko Haram, an Ebola outbreak and the weakening price … Continue reading
Deal Reached To End Fuel Crisis in Nigeria
Nigeria’s fuel wholesalers say they have reached a deal with the government to resume fuel distribution, ending a crisis that brought Nigeria’s economy to a standstill as airlines were forced to ground flights and banks to phone companies faced shutdowns. The Major Oil Marketers Association of Nigeria (MOMAN) said Monday following a meeting with Nigeria’s finance minister that it … Continue reading
Renaissance Or Mirage: Can Africa Sustain Its Growth?
By Stephen Onyeiwu The world’s eyes have turned to Africa after what many consider to be an unprecedented economic performance. Even the most cautious analysts are so sanguine about the continent’s economic prospects that they are willing to bet on its rosy future. The International Monetary Fund expects sub-Saharan Africa to grow at an average annual … Continue reading
China Signs $5.5 Billion In Africa Infrastructure Deals
One of the largest railway companies in China, Construction Corp Ltd (CRCC), has inked two construction deals in Africa worth a combined $5.5 billion, highlighting its ability to compete on the international stage. CRCC China-Africa Construction LTD, which is a wholly owned subsidiary of CRCC, has signed a $3.51 billion contract to build an intra-city railway in … Continue reading
Nigeria’s Sovereign Credit Still At Risk Despite Smooth Presidential Election Transition, Fitch Says
Risks to Nigeria’s sovereign credit rating remain, despite a smooth transfer of power from March’s presidential elections, as the change of government creates uncertainty over its economic policy, Fitch Ratings said in a statement on Thursday. Muhammadu Buhari of the All Progressives Congress (APC) is set to succeed the incumbent Goodluck Jonathan as Nigeria’s president on May 29, following … Continue reading
Follow Us On Social Media
The SSE Intl Roadshow
Our Discussion Groups
Our Social Media Readers
